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Kobi Kastiel

Kobi Kastiel is a Professor of Law at Tel Aviv University, Faculty of Law. He also serves as a Senior Research Fellow at the Harvard Law School Program on Corporate Governance, a non-resident Affiliate Fellow of the Stigler Center at University of Chicago, and a Research Member at the European Corporate Governance Institute. Kastiel teaches and researches in the fields of corporate law and corporate governance, with a particular focus on public companies with controlling shareholders, shareholder activism and stakeholder governance.
ESG, Corporate Governance & Future of the Firm

How Much Do Investors Care About Social Responsibility?

Scott Hirst
Study participants are less likely to accept lower returns in support of social goals when acting as investors versus consumers or donors with a third accepting no reduction in returns. Additionally, those with higher income, women and Democrats were willing to accept lower return in support of social goals than those with lower income, men, Republicans and Independents.
Big Tech

Twitter’s Corporate Leaders Pushed their Stakeholders under the (Musk) Bus

Lucian Bebchuk
In a new study, we examine whether, in negotiating the sale to Elon Musk, Twitter’s corporate leaders took into account the commitments to employees...
ESG, Corporate Governance & Future of the Firm

How Enlightened is Enlightened Shareholder Value?

Lucian Bebchuk
There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider stakeholder interests...
ESG, Corporate Governance & Future of the Firm

Are “Bankruptcy Directors” Bad for Creditors?

Jared Ellias
A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join corporate boards...
Covid-19

How the Covid-19 Pandemic Put Corporate Stakeholder Promises to the Test

Lucian Bebchuk
Prior to the outbreak of Covid-19, corporate leaders pledged to look after all stakeholders, not just deliver value to shareholders. Did they live up...
News

For Whom Corporate Leaders Bargained: What the Past Can Teach Us About the Questionable Promise of Implementing Stakeholder Capitalism Today

Lucian Bebchuk
The debate about stakeholder capitalism should seek to learn from our experience with constituency statutes, which authorized corporate leaders to take into account stakeholder...

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